‘Good news’ coming soon on electricity prices: Shehbaz Sharif

Prime Minister Shehbaz Sharif said on Wednesday that he will give the nation “good news” regarding reduced electricity costs and a new economic reform plan.

“Today, there is inflation. People are worried about electricity bills and other problems. However, if not all is good in the country, not all is bad,” said the PM.

“Our primary focus is on reducing power prices to provide relief to domestic consumers, agriculture, industry, exports, and business sectors. This is essential to navigate the current economic challenges. The competitiveness of our exports is directly linked to affordable electricity,” stated the premiere in an address to newly appointed officials of power distribution companies (DISCOS) on Tuesday.

He highlighted that the Special Investment Facilitation Council (SIFC) was committed to lowering energy costs, which have placed a significant burden on the debt-ridden nation.

He pointed out DISCOS’s inefficiencies and corruption, which have led to power theft costing around Rs 500 billion annually.

“This is your greatest challenge. The government has deliberated on how to improve the system. You must give your best,” the PM stated, stressing that DISCOS officials’ appointments have been made on merit.